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FIRS offers more tax concessions during COVID-19

The Federal Inland Revenue Service (FIRS) has announced extra tax concessions in response to COVID-19. Option to pay tax in Naira: Tax is payable in the currency of the transaction. For transactions in foreign currency, taxes will be paid in…

Nigeria Tax Highlights – March 2020

Apart from being the end of Quarter 1 2020, March 2020 was a defining moment in the Nigerian tax system. Tax and regulatory authorities had to issue various concessions due to the COVID-19 pandemic. In case you missed the major…

President signs the 2020 Budget into law – Nigeria

President Muhammadu Buhari signed the 2020 Budget into law on 17 December 2019 within two months after the first presentation at the National Assembly. The 2020 Budget shows a total expenditure of ₦10.59 trillion while the total revenue is ₦8.31…

Finance Bill 2019 to amend various tax laws in Nigeria

Some provisions in the Nigerian tax laws are outdated and ambiguous. Over the years, Nigerian lawmakers made attempts to amend gray areas in the tax laws but with little impact. One new legislation that will reform the Nigerian tax space…